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Li Guohua Meets with President of Warburg Pincus
Li Guohua Meets with President of Warburg Pincus2015-04-02

Li Guohua, president of the China Post Group Corporation met with Timothy F. Geithner, president of Warburg Pincus — an American global private equity firm — in Beijing on the afternoon of March 23, 2015. The two sides engaged in deep exchanges, discussing mutual cooperation between the two organizations in the future.

Li introduced that the Postal Savings Bank of China (PSBC) is the bank with the largest-spanning network of business outlets in the world, with almost 40,000. Relying on a business model based on both self-management and agency management, the bank has developed quickly in recent years, meeting the financial service demands of both rural and urban residents.

In addition, the PSBC has a much lower loan-to-deposit ratio than the average level of all banking institutions in China, suggesting that the strong developmental potential of the PSBC is not to be underestimated. In addition, the non-performing loan ratio of the PSBC is 0.64 percent, which is only half of the average ratio among Chinese banks.

In recent years, the PSBC has developed quickly with its asset size, business income and net profit increasing by 18 percent, 27 percent and 58 percent respectively over the five years between 2009 and 2014.

Mr. Geithner said that Warburg Pincus is monitoring closely the potential establishment of an all-round and long-term strategic cooperation with the PSBC in the future. He hopes that the two sides can achieve a win-win situation through their mutual efforts.

Private equity investing is the only business with which Warburg Pincus deals. Established more than 45 years ago, the American corporation has invested more than U.S. $50 billion in more than 720 companies across more than 35 countries around the world.

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